Inflation in Austria has continued to accelerate. According to Statistics Austria, the inflation rate in April was 7.2 percent – the last time there was such a high inflation rate was in October 1981. Expenditure on transport and housing accounted for three-fifths of inflation. Compared to the previous month of March, the price level rose by 0.3 percent.
“In addition to fuel and energy products, rising food prices are currently also responsible for the rise in inflation,” said Statistics Austria Director General Tobias Thomas on Wednesday, according to the announcement.
In March 2022, the inflation rate was 6.8 percent. In April, transport prices were already 17.7 percent higher on average than a year ago. Prices for housing, water and energy increased by an average of 9.4 percent. Food and non-alcoholic beverages rose by 8.4 percent, while restaurants and hotels increased their prices by an average of 6.4 percent. 3.2 percent more was paid for leisure and culture than a year ago.
The main price drivers in April compared to March were food (+2.1 percent). Package holidays had a price-dampening effect compared to the previous month (-19.2 percent).
Source: Nachrichten
